JCDecaux : Better-than-expected Q3 but Q4 guidance slightly more cautious than we initially thought
>Better-than-expected Q3 but lower Q4 guidance than our initial estimate - Last night JCDecaux reported Q3 sales that were pretty much in line with our estimates. Organic growth came to 28.6%, whereas we had expected 26.4%, with a satisfactory performance in urban furniture and transport. The group is guiding for Q4 organic growth of 20% which seems very cautious to us. We expect the trend in Europe and in urban furniture to remain solid. We trim our estimate slightly...JC Decaux specializes in outdoor advertising. Co.'s business mainly consists of the sale of advertising space for these activities: Street Furniture, Transport Advertising and Billboard. The Street Furniture segment covers the advertising agreements relating to public property entered into with cities and local authorities. It also includes advertising in shopping centers, renting of street furniture, sale and rental of equipment, cleaning and maintenance. The Transport Advertising segment covers advertising in airports, subways, buses, tramways and trains. The Billboard segment covers advertising on private property and neon-type activity.
Oddo Securities provides securities brokerage and research services. The company offers equity, economic, and derivatives research and credit analysis services. It focuses on insurance, automotive, building materials, pharmaceuticals, telecommunications, information technology, and agri-food industries.
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